Leaders at the Detroit Institute of Arts praised the efforts of federal mediators today saying they're working toward a solution that protect's the museum's collection while giving relief to the city of Detroit.

The collection has been seen as a potential source of revenue by some creditors who are poised to lose a lot of money in the Detroit bankruptcy.

More from the DIA's press release:

At a meeting with the mediators on Tuesday, the DIA expressed enthusiastic support for the work that has been done to date, and pledged to help refine and implement the plan in the weeks ahead. The plan engages national and local foundations among other funding sources to create a mechanism for providing cash for the City, while ensuring the present and future safety of the DIA collection. Details of the plan are still in process, as meetings with the foundation community and others continue. The DIA has begun to mobilize its considerable public support to help implement a fundraising strategy that will satisfy the City’s needs, while ensuring the well-being of the museum for the residents of Detroit, southeast Michigan and beyond.

The city of Detroit remains immersed in a time of massive change. Ongoing bankruptcy proceedings, an approaching mayoral election, and the possibility of an auction of Detroit Institute of Arts masterpieces are on people's minds.

As part of our State of Opportunity project, Michigan Radio has partnered with the Detroit Free Press, The Center for Michigan, and WDET to host three community conversations with Detroit residents in three different locations in Detroit this Thursday. The goal is to talk with resident about what they see happening in the city and what would make Detroit a place where they feel they can build a future.

If you’re a resident of Detroit and would like to participate in one of the community conversations this Thursday, October 24th at 6:00 pm you can a reserve spot at one of three Detroit locations. Stephen Henderson will be at the Northwest Activities Center, Craig Fahle with WDET will be at the Northeast Guidance Center, and Jennifer White be at El Nacimiento in Southwest Detroit.

Detroit Emergency Manager Kevyn Orr has sent out the strongest hint yet that prized pieces in the DIA collection are on the table as a way to put money into the city coffers.

Without offering many details, Orr told the Detroit Economic Club today that there are ways for the DIA to make money from its artwork that might not involve outright sales, but perhaps would involve long-term leases.

Orr was clear -- he said he must consider ways to use the museum's treasures to help the bankrupt city.

And, earlier this week, another one of the city's "jewels" was back in the spotlight.

The State and Mayor Dave Bing announced an agreement under which the State DNR would run Belle Isle as Michigan's 102nd State Park.

Detroit News business columnist Daniel Howes joined us to talk about all this.